Coinbase stock opens in the green day after SEC lawsuit filing

Quick Take

  • Coinbase has retraced some of Tuesday’s stock price losses in the wake of an SEC lawsuit against the exchange.
  • CEO Brian Armstrong spoke about the lawsuit during a CNBC appearance this morning.

The price of Coinbase stock opened in positive territory at the start of Monday's trading session.

At 10:05 a.m. ET, the price was trading at $53.37— a roughly 3.4% increase from the open, according to TradingView data. The price opened at $53.28.

COIN price chart via TradingView

On Tuesday, Coinbase's price fell sharply on breaking news that the Securities and Exchange Commission had filed a lawsuit over its staking program — the latest stage in an ongoing legal spat between the U.S. crypto exchange and the top American securities regulator. 

Coinbase CEO Brian Armstrong spoke about the lawsuit and the exchange's relationship with the SEC this morning during an appearance on CNBC. 

"This isn't good for America," Armstrong told the outlet. "It's not good for the industry, obviously. And we now need to get clarity from the courts."

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